Point72 Asia Singapore Pte. Ltd. Acquires 19,382 Shares of Newmont Co. (NYSE:NEM)

Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Newmont Co. (NYSE:NEM) by 890.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 21,559 shares of the basic materials company’s stock after purchasing an additional 19,382 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Newmont were worth $1,152,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cetera Investment Advisers boosted its stake in Newmont by 990.2% in the 1st quarter. Cetera Investment Advisers now owns 205,894 shares of the basic materials company’s stock valued at $7,379,000 after purchasing an additional 187,008 shares during the period. Cetera Advisors LLC boosted its stake in Newmont by 30.3% in the 1st quarter. Cetera Advisors LLC now owns 21,464 shares of the basic materials company’s stock valued at $769,000 after purchasing an additional 4,987 shares during the period. Teachers Retirement System of The State of Kentucky boosted its stake in Newmont by 35.6% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 94,471 shares of the basic materials company’s stock valued at $3,386,000 after purchasing an additional 24,819 shares during the period. GAMMA Investing LLC boosted its stake in Newmont by 32.5% in the 2nd quarter. GAMMA Investing LLC now owns 15,366 shares of the basic materials company’s stock valued at $643,000 after purchasing an additional 3,772 shares during the period. Finally, DNB Asset Management AS boosted its stake in Newmont by 8.2% in the 2nd quarter. DNB Asset Management AS now owns 219,984 shares of the basic materials company’s stock valued at $9,211,000 after purchasing an additional 16,623 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $157,410.00. Following the completion of the sale, the executive vice president now owns 94,596 shares of the company’s stock, valued at approximately $4,963,452.12. This trade represents a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $1,076,200.00. Following the completion of the sale, the chief executive officer now directly owns 271,469 shares of the company’s stock, valued at $14,607,746.89. This trade represents a 6.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,000 shares of company stock valued at $2,444,440. Company insiders own 0.06% of the company’s stock.

Newmont Trading Down 0.2 %

NYSE NEM opened at $41.94 on Monday. The business has a 50 day simple moving average of $49.09 and a 200 day simple moving average of $47.49. Newmont Co. has a one year low of $29.42 and a one year high of $58.72. The stock has a market capitalization of $47.75 billion, a P/E ratio of -27.59, a P/E/G ratio of 0.36 and a beta of 0.51. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

Newmont (NYSE:NEM) last released its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The business had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same period in the prior year, the business earned $0.36 EPS. The company’s revenue for the quarter was up 84.7% on a year-over-year basis. Research analysts expect that Newmont Co. will post 3.08 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 annualized dividend and a yield of 2.38%. Newmont’s dividend payout ratio is currently -65.79%.

Analysts Set New Price Targets

Several research firms recently issued reports on NEM. Veritas upgraded Newmont to a “strong-buy” rating in a research note on Monday, September 30th. Argus raised Newmont from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a report on Thursday, August 29th. Cibc World Mkts cut Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Royal Bank of Canada dropped their price objective on Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a report on Thursday, October 24th. Finally, Raymond James dropped their price objective on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $54.31.

About Newmont

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.